Correlation Between Amundi EURO and 21Shares Bitcoin
Can any of the company-specific risk be diversified away by investing in both Amundi EURO and 21Shares Bitcoin at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Amundi EURO and 21Shares Bitcoin into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amundi EURO STOXX and 21Shares Bitcoin Cash, you can compare the effects of market volatilities on Amundi EURO and 21Shares Bitcoin and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Amundi EURO with a short position of 21Shares Bitcoin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi EURO and 21Shares Bitcoin.
Diversification Opportunities for Amundi EURO and 21Shares Bitcoin
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Amundi and 21Shares is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Amundi EURO STOXX and 21Shares Bitcoin Cash in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 21Shares Bitcoin Cash and Amundi EURO is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Amundi EURO STOXX are associated (or correlated) with 21Shares Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 21Shares Bitcoin Cash has no effect on the direction of Amundi EURO i.e., Amundi EURO and 21Shares Bitcoin go up and down completely randomly.
Pair Corralation between Amundi EURO and 21Shares Bitcoin
Assuming the 90 days trading horizon Amundi EURO STOXX is expected to generate 0.16 times more return on investment than 21Shares Bitcoin. However, Amundi EURO STOXX is 6.19 times less risky than 21Shares Bitcoin. It trades about 0.06 of its potential returns per unit of risk. 21Shares Bitcoin Cash is currently generating about 0.01 per unit of risk. If you would invest 5,986 in Amundi EURO STOXX on August 28, 2025 and sell it today you would earn a total of 164.00 from holding Amundi EURO STOXX or generate 2.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amundi EURO STOXX vs. 21Shares Bitcoin Cash
Performance |
| Timeline |
| Amundi EURO STOXX |
| 21Shares Bitcoin Cash |
Amundi EURO and 21Shares Bitcoin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amundi EURO and 21Shares Bitcoin
The main advantage of trading using opposite Amundi EURO and 21Shares Bitcoin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi EURO position performs unexpectedly, 21Shares Bitcoin can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in 21Shares Bitcoin will offset losses from the drop in 21Shares Bitcoin's long position.| Amundi EURO vs. Amundi MSCI Semiconductors | Amundi EURO vs. Amundi Index Solutions | Amundi EURO vs. Amundi Index Solutions | Amundi EURO vs. Amundi Index Solutions |
| 21Shares Bitcoin vs. 21Shares Polygon ETP | 21Shares Bitcoin vs. 21Shares Bitcoin Core | 21Shares Bitcoin vs. 21Shares Ethereum Core | 21Shares Bitcoin vs. 21Shares Tezos staking |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.
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